News Formal

Felda: Govt committed to complete recovery plan implementation, says Finance Ministry

  • 📰 staronline
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR: The Unity Government is committed to ensuring the implementation of the Felda recovery plan, which includes the settlement of settlers’ debts as previously announced, is completed.

Accordingly, the Finance Ministry said the government has approved a government guarantee of up to RM9.9bil for the agency to issue sukuk.

On June 28, the government announced an agreement involving a government guarantee to restructure the agency's loan via the issuance of sukuk and revolving credit as part of efforts to restore Felda's financial position. "Budget 2021 and Budget 2022, tabled by Perikatan Nasional, have no provision to settle and dispose of Felda settlers’ debt. I stand by this record.

Meanwhile, Felda's new chairman Datuk Seri Ahmad Shabery Cheek admitted that Tan Sri Muhyiddin Yassin had already announced during his tenure as the prime minister that he would pay RM1bil a year for 10 years from 2022, but this was not implemented.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance ministry: Govt committed to complete Felda recovery plan implementationKUALA LUMPUR, July 9 — The Unity Government is committed to ensuring the implementation of the Felda recovery plan, which includes the settlement of settlers’ debts as...
Source: malaymail - 🏆 1. / 86 Read more »